Table of Contents
Toggle
Trader James Wynn
James Wynn increases long positions
Premeditated sniping?
From legend to contrarian indicator
According to a previous report by Zombit, the recently notable whale James Wynn posted yesterday afternoon, stating that he would be exiting the market with a profit of $25 million, seemingly implying that he would no longer participate in contract trading.
However, that afternoon, James Wynn deposited an additional $5 million USDC into Hyperliquid, opening long positions in Bitcoin and PEPE, and subsequently made multiple deposits of USDC as principal. Data shows that James Wynn has replenished approximately $28 million in total as margin.
Meanwhile, his Bitcoin long position even reached as high as 6,227.39 BTC, with an average opening price of 110,082; additionally, he holds long positions in PEPE valued at around $20 million. Unbeknownst to him, the subsequent clarification from TMTG that the news regarding funding for Bitcoin purchases was false led to a rapid decline in Bitcoin prices, putting James Wynn’s high-leverage positions at risk of liquidation.
In order to avoid liquidation, James Wynn urgently closed out some of his Bitcoin and PEPE long positions. Currently, James Wynn’s long position has been reduced to only 3,375.11 BTC.
Originally poised to exit with a profit of $25 million, James Wynn has incurred a loss of approximately $15 million in this round of trading. So far, James Wynn’s historical total profit has fallen back to $10 million, with a total loss of $44 million in the past week.
On-chain analyst @ai_9684xtpa speculated that this wave of decline appears to be a premeditated “sniping” targeting James Wynn, aimed at forcing him to close positions or face liquidation by significantly driving down market prices. Similar cases have previously occurred with another on-chain data figure, “Insider Bro.”
Moreover, many in the community have chosen to take the opposite stance to James Wynn, executing reverse operations and thus gaining considerable profits. According to data monitored by the on-chain analysis platform Lookonchain, a trader with the address 0x2258 has profited approximately $5.6 million in the past three days by consistently countering James Wynn’s trading strategies.
However, some have questioned whether this wallet might be an AB account used by James Wynn for hedging purposes.
